New York (HedgeCo.Net) – San Francisco hedge fund manager Chris Hansen is planning a $490 million basketball and hockey arena, pledging $290 million of his private money to the Seattle project, local papers report.
Seattle City Council members voted 6-2 on Monday, approving the project after a financial audit and some detail about the amount of equity his partners have in the hedge fund group.
Hansen promised to secure a new NBA team and has plans to attract an NHL team, the Seattle Times said. He introduced Microsoft CEO Steve Ballmer and Nordstrom executives Peter and Eric Nordstrom as partners in the deal.
Hansen’s hedge fund, Valiant Capital Management had nearly $3.3 billion in net assets under management at the end of 2011, the Seattle Times reported. Valiant has grown rapidly since its founding in 2008, but is still fairly small by hedge fund standards.
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